[(1) A resolution approving [an amendment] for the purposes of section 226B(1)(b) or 226C(1)(b) must not be passed unless a memorandum setting out particulars of the proposed payment [to which the amendment relates] (including its amount) is made available for inspection by the members of the company—
(a) at the company's registered office for not less than 15 days ending with the date of the meeting at which the resolution is to be considered, and
(b) at that meeting itself.
[(2) The memorandum must explain the ways in which the payment would be inconsistent with the approved directors' remuneration policy
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
This Practice Note discusses the common law doctrine of privity of contract; the equitable and statutory exceptions to it; how the doctrine affects enforcing a contract against a third party and what happens when, notwithstanding the lack of privity, a contract has an indirect effect on a third
This Practice Note is an archive of news from the Loan Market Association (LMA) on LMA documentation and related topics. It covers LMA updates from early 2013 to January 2016. For the latest LMA developments since January 2016, see Practice Note: Loan Market Association (LMA)—latest news on
Facilitating the performance of a duty by public officialsFacilitation payments, also known as facilitating or grease payments, are generally small amounts of money paid to public officials or others as a means of ensuring that they perform their duty, whether more promptly or at all. In some
This Precedent letter covers disclosure obligations under CPR 31. It does not apply to proceedings subject to the disclosure pilot scheme under CPR PD 51U. For guidance on the disclosure pilot scheme, see Practice Note: Business and Property Courts—the disclosure pilot scheme. For a client letter on
0330 161 1234
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.